We create memorable mountain experiences

The leading holiday organiser for Scandinavia. Operates Mountain Resorts, Hotels as well as Property Development & Exploitation.

SKIS B
next report (DAYS)
Market Cap
12.92B
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Why invest?

1/5

Leading market position in Scandinavia

SkiStar is the leading holiday organiser/planner for Scandinavia with an offering and an efficient organisation that provide long-term continuous growth and stable profitability

2/5

Positive market trend

Demand for active leisure time and holidays at home means that SkiStar will further consolidate its position in the future.

3/5

Competitive advantage thanks to our web presence

Sales have been deliberately focused on skistar.com and the SkiStar app, where guests’ engagement is gathered, meaning that SkiStar has a direct relationship with the guest and therefore a competitive advantage.

4/5

Our assets

The company owns substantial assets in the form of land and properties at the destinations where SkiStar operates. Property development and exploitation operations generate not only capital gains, but also strategic projects that increase the number of beds at destinations, and thus potentially also guest numbers, for core operations.

5/5

SkiStar offers special benefits to its shareholders

As a SkiStar shareholder you can enjoy a 15% discount on SkiPass, ski school, and more.

This is SkiStar

What are we?

SkiStar operates top-tier resorts in Sälen, Vemdalen, Åre, and Stockholm (Hammarbybacken) in Sweden, as well as Hemsedal and Trysil in Norway. These destinations are celebrated for their exceptional skiing conditions and year-round activities.

What are we?

SkiStar operates top-tier resorts in Sälen, Vemdalen, Åre, and Stockholm (Hammarbybacken) in Sweden, as well as Hemsedal and Trysil in Norway. These destinations are celebrated for their exceptional skiing conditions and year-round activities.

Our 3 business areas

1. Operation of mountain resorts
2. Operation of hotels
3. Property development & exploitation

Sustainability

SkiStar operates top-tier resorts in Sälen, Vemdalen, Åre, and Stockholm (Hammarbybacken) in Sweden, as well as Hemsedal and Trysil in Norway. These destinations are celebrated for their exceptional skiing conditions and year-round activities.

About Skistar

Skistar.com
1.8 miljoner
Medlemmar i SkiStar member
33 miljoner
Besök på skistar.com årligen
Skipass / aktivitetspass
Guides
Service
Skistarshop.com
Boende
Butiker
Tjänster
Hyra
What are we?
SkiStar operates resorts in Sälen, Vemdalen, Åre, and Stockholm (Hammarbybacken) in Sweden, as well as Hemsedal and Trysil in Norway. These destinations are celebrated for their exceptional skiing conditions and year-round activities.
Built to Thrive Year-Round
From world-class Nordic slopes to expanding summer escapes, SkiStar is an investment in four-season dominance. Strong margins, prime locations, and unwavering demand make us the future of mountain tourism.
Our 3 business areas
1. Operation of mountain resorts
2. Operation of hotels
3. Property development & exploitation
Sustainability
SkiStar’s strategic framework is based on three foundations to ensure the business can achieve its vision ‘To create memorable mountain experiences’. The foundations’ focus areas guide the work forward and include our sustainability strategy, culture and employees, and a safe and secure experience (ESG).

About Skistar

SkiStars offering

The basis of SkiStar’s offer is to generate sales before the guest arrives at the destination. 83% of SkiStar’s sales take place onskistar.com, which is the largest sales channel and the most vital component of the business model.

Skistar.com

34,3 million visits annually
83% of SkiStar’s sales takes place on skistar.com
Book your entire mountain experience seamlessly in one place

Services

Ski pass/activity pass
Guides
Services
Skistarshop.com
Stores
Rental
Accomodation
Skistar.com
1.8 miljoner
Medlemmar i SkiStar member
33 miljoner
Besök på skistar.com årligen
Skipass / aktivitetspass
Guides
Service
Skistarshop.com
Boende
Butiker
Tjänster
Hyra

SkiStars main business areas

Operation of mountain resorts
In addition to the operation of the facilities themselves, this part also includes the sale of all products and services such as SkiPass, accommodation, activities and articles in SkiStarShops and SkiStarShop Concept Stores.
83% of SkiStars revenue in 23/24
Operation of hotels
Includes activities related to hotels operated under the SkiStar brand and under SkiStar's auspices. SkiStar manages the operation of the business as a tenant in the hotel properties in question.
11% of SkiStars revenue in 23/24
Property development & exploitation
Includes management of assets that can be exploited or used in its own segment or leased to the Operation of mountain resorts segment.
6% of SkiStars revenue in 23/24

Our resorts

2022/23 statistics
1 884 977
Ski days
84 330
Activity days
1 238 225
Water use, m3
107
Lifts
101
Number of slopes
27 452
Electricity consumption, MWh
2022/23 statistics
886 791
Ski days
9 830
Activity days
629 472
Water use, m3
43
Lifts
58
Number of slopes
8 758
Electricity consumption, MWh
2022/23 statistics
1 356 837
Ski days
81 732
Activity days
1 350 436
Water use, m3
46
Lifts
102
Number of slopes
18 523
Electricity consumption, MWh
2022/23 statistics
641 760
Ski days
13 826
Activity days
338 990
Water use, m3nvändning, m3
21
Lifts
51
Number of slopes
6 674
Electricity consumption, MWh
2022/23 statistics
1 307 972
Ski days
51 449
Activity days
525 795
Water use, m3
40
Lifts
69
Number of slopes
17 324
Electricity consumption, MWh
2022/23 statistics
27 590
Ski days
25 899
Activity days
2
Lifts
3
Number of slopes

Our market & industry

SkiStar is in a strong position thanks to its strong presence in the stable alpine skiing market, a diversified customer base, competitive advantages in Scandinavia, potential for market expansion, and strategic adaptability.

52%
Market share in Sweden
2023
41%
Market share in Scandinavia
2023
31%
Market share in Norway
2023

Global-

166% -
Tourism growth since 1995 (tourist arrivals)-
7% -
of total global exports of goods and services (2019)-
Tourism breakown (2019)-
56%-
Holidays, recreation, leisure-
13%-
Business travel-
27%-
Visits to family and friends, religious or health-related travel-

Swedish-

2.5%-
of Sweden's GDP was tourism (2019)
7% -
of total global exports of goods and services (2019)-

Coronavirus pandemic-

60-80%-
Estimated total net loss for international tourism due to coronavirus pandemic (2020)-
Approx. 54%-
Decrease in overnight guests (Sweden overall) during Covid19 pandemic. (march-may 2020)-
2000+
Number of destinations worldwide-
19 million-
Scandinavian skier days (2018/2019 season Sweden, Norway, Finland)-
100-
Number of countries offering alpine -
400m-
Annual Skier days globally-
210m-
Skier days a year in EU-
135 million-
Estimated Global Skiers-

Sweden's Ski industry 2019/2020 season (Covid)-

7.65 million-
Skier days at 50 largest resorts-
7.9 million-
Total skier days (16% decrease)-
Over SEK 1.5 billion-
Ski pass sales (13% decrease)-

Our guests

Our guests is the engine of our growth and development. Providing memorable mountain experiences is the promise we make to our customers. In addition to offering accommodation, activities, products and services of the highest quality all year round for our guests, our aim is to constantly improve and develop together with our guests and in step with changes to our operating environment.

Our story

1975
Brothers Erik and Mats Paulsson buy the ski resort Lindvallen in Sälen
1994
Lindvallen i Sälen AB is listed on the Stockholm Stock Exchange
1997
Aquisition of Tandådalen and Hundfjället
1999
Aquisition of Åre and Vemdalen
2000
Aquisition of Hemsedal
2001
The Group adopts the name SkiStar
2005
Aquisition of Trysil
2021
Launch of SkiStar Sports & Adventures
2022
New Stockholm Hammarbybacken opens

SkiStars growth strategy

Further develop core operations

To strengthen our position as the leading holiday organiser for Scandinavia, alpine skiing will remain SkiStar’s main focus when creating memorable mountain experiences. During the financial year, we continued to invest even more in the summer and autumn seasons, thus creating new sources of revenue.

To increase the number of skier and activity days and thus boost revenues, the key is to attract more guests to our destinations who are more satisfied with their experience and more guests who return year after year. It is also important to strengthen the destinations’ competitiveness, with key factors being the product range, development of ski systems, summer activities and offering accommodation that meets the guest's expectations. As people’s lifestyles and holiday habits are shifting, with them moving in recent years towards more active holidays spread over different periods of the year, work is under way to review how we can meet demand for adapted opening times, lift-assisted summer activities and guaranteed snow. At the same time, we are continuing to make investments in our mountain resorts, such as new lifts and skiing areas with plans to implement several new lifts to weatherproof and windproof Åre.

Find more sources of revenue

SkiStar wants to be at the cutting edge and further develop operations with a focus on increasing the number of guests and activity days at our destinations and driving sustained profitable growth. Sales of our SkiPass are at the heart of our revenue. Based on this successful product, we have since developed new sources of revenue in the form of ski rentals through SkiStarshop, our snowman Valle and Valle's Ski School, the SkiStar Living accommodation concept and much more.

Another important part of finding new sources of revenue is to even more efficiently base our actions on guests’ behaviours, purchasing patterns, satisfaction and preferences through the customer data we have from skistar.com, guest surveys, but also through memberships in SkiStar Member, using an updated strategy and development programme. By linking our sustainability target of seven million skier and activity days to the new SkiStar Member (as each skier day or activity day will give entitlement to a bonus), we are linking our guests and members closer to our sustainability targets within ‘activity and recreation’.

Guests also receive all the benefits of being both loyal guests and members over time, such as bonus points on all purchases in the SkiStarshop, be it in physical stores or online, as well as on bookings and rentals via skistar.com. To put it simply – it should pay to be active.

Sustainable property transactions

For SkiStar, it is important for all land exploitation and property development in the Scandinavian mountain world to be sustainable. An important goal for us is to see a positive performance in the value of our exploitable land. This is achieved by active detailed development plans, which lead to new projects being launched more quickly.

Another vital aspect of the strategy is to ensure a strong performance in the value of the property portfolio by developing and enhancing the efficiency of properties owned by SkiStar, not least in terms of energy efficiency and systematic maintenance.

Digitalization: Meet customers where customers want to be

For SkiStar, digitalisation means developing our destinations and digital platforms based on customer insight and data analysis with the concepts of simplicity, satisfaction, accessibility and the safety of our guests serving as a guide.

Over the past year, SkiStar has continued to develop a number of products and services – everything from the SkiStar app to digital check-in and check-out at our accommodation. The Valle app is being developed into a ‘digiphysical’ tool as part of our efforts to give more children a sense of adventure and a love of the great outdoors.

Digital business development will continue over the coming years with a focus on further guest-centric adjustments. It is a question of being at the forefront of digital interaction with guests, to create a memorable and carefree alpine experience before, during and after their trip.

Create future business

Based on our brand and existing assets, we identify, analyse and generate future business through ongoing business development, thus reinforcing and intensifying our pace of innovation.

The pace of development was high during the year, particularly relating to the all-year-round initiative, with more attractions being developed over a three-year period, including climbing parks, Mountain Coasters and adventure arenas.

Financial goals

The overall goal is for the value of shareholders’ capital to increase sustainably over the long term.

SkiStar’s Board of Directors decided to revise the financial targets for the medium term in the first quarter 2023/24 to the following:

6% organic growth
Organic growth: Operating income is to grow by an average of 6 percent annually. This target refers to organic growth, adjusted for acquisitions and foreign currency effects.
Outcome 2022/23: 5%
Outcome 2023/24: 10%
18% operating margin
The operating margin is to average 18%.
Outcome 2022/23: 14%
Outcome 2023/24: 16%
Interest-bearing debt to EBITDA ratio to be less than 2.5x
Debt: The net interest-bearing debt to EBITDA ratio to be lessthan 2.5, excl. IFRS 16 effects.
Outcome 2022/23: 2.6
Outcome 2023/24: 1.7

Financial overview

Income statement

Finansiell översikt

SKIS B
Capital %
Votes %
Ekhaga Utveckling AB
12 month trend
24.2
%
-
18 991 150
aktier
46.6
%
Aug 31, 2024
Nordic Ski & Mountains AB
12 month trend
19.2
%
-
15 060 000
aktier
13.5
%
Aug 31, 2024
Handelsbanken Fonder
-1.56%
12 month trend
5.5
%
-
4 305 646
aktier
3.9
%
Aug 31, 2024
Familjen Erik Paulsson inkl bolag
12 month trend
3.8
%
-
2 963 314
aktier
2.7
%
Aug 31, 2024
Swedbank Robur Fonder AB
-7.98%
12 month trend
3.7
%
-
2 882 292
aktier
2.6
%
Aug 31, 2024

Management & board

SkiStar's Group Management is headed by CEO Stefan Sjöstrand.

The above data on shareholdings and assignments in other companies are last updated as of 30 November 2024 unless otherwise specified. The holding relates to own and related natural or legal person's holding of shares and other financial instruments in SkiStar AB.